Quitclaim Deed

• Grantor - The person or entity that owns the property and executes the quitclaim deed.
• Grantee - The person or entity than receives title to the property.

The quitclaim deed conveys to the grantee all of the legal or equitable rights the grantor has in the property that existed at the time of the conveyance.

It is important that you use the correct type of Quitclaim Deed. There are 20 to 30 different forms for various states. The most common type used is to transfer the ownership from one spouse to the other during a divorce procedure.

However, there are many other situations that would require a quick transfer of ownership. For example: one or more individuals, or husband and wife, may wish to transfer ownership to multiple individuals as tenants in common or as joint tenants with the right of survivorship. Another situation may be the transfer of ownership from one or more individuals to a trust or perhaps from a trust to a trust.

In addition, the desired transfer of ownership may involve one or more individuals and a corporation or limited liability company.

As you can see, the Quitclaim deed comes in many forms and is not only state specific, it is entity specific. Whatever your specific situation is will be available to you when you select a state from the list above.

It is advisable to record All quitclaim deeds.